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Dutch Bros BROS Q3 2025 earnings

Reported November 5, 2025 · After market close

Revenue$423.6MBeat by $10.0M
EPS$0.19Beat by $0.02
Revenue estimate$413.6M
EPS estimate$0.17

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$548.8M
EPS estimate$0.23

Financials

Q3 2025

Income statement

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Revenue$423.6M+25.2%
Gross profit$106.8M+18.6%
Operating income$41.5M+27.6%
Net income$17.5M+38.4%
EPS (diluted)$0.14+27.3%

Balance sheet

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Cash & equivalents$267.2M-5.0%
Total debt$1.0B+11.6%
Total equity$656.6M+25.5%
Total assets$2.9B+20.2%

Cash flow

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Operating cash flow$89.1M+6.8%
CapEx$70.2M+23.0%
Free cash flow$18.9M-28.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$6.65B+82.3%
Enterprise value$7.41B+72.7%
P/E107×—
P/S4.3×+1.3×

Profitability

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Gross margin26.3%+0.2pp
Operating margin9.3%+1.5pp
Net margin4%—
FCF margin4.3%+3.6pp

Returns & leverage

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Return on equity10.5%—
Debt / equity1.6×-0.2×
Current ratio1.5×-0.4×

Segments

By segment

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Company-operated shops$392.8M+27.4%
Franchising and other$30.8M+2.8%

FAQ

When did Dutch Bros report Q3 2025 earnings?
Dutch Bros (BROS) reported Q3 2025 earnings on November 5, 2025 after market close.
What were Dutch Bros's Q3 2025 revenue and EPS?
Dutch Bros reported revenue of $423.6M and eps of $0.19 for Q3 2025.
Did Dutch Bros beat estimates in Q3 2025?
Revenue beat the consensus estimate of $413.6M by $10.0M. EPS beat the consensus estimate of $0.17 by $0.02.
How did Dutch Bros's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 25.2% from $338.2M a year earlier and eps grew 18.8% from $0.16.
Where can I find Dutch Bros's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001866581-25-000226) and the 10-Q periodic report (0001866581-25-000227) directly on SEC EDGAR. The filing index links above go to sec.gov.